Yes, I'm new and building a reputation with several winning transactions with several references already. I have bullion but need to own some bitcoin to diversify. I figure there's a few folks out there that have some bitcoin but need to diversify a little into bullion. Win-win! Now you can say that bitcoin is truly backed by gold!

In addition to simply acquiring bitcoin, I see this as a way to provide liquidity to the community and help "complete the circle" so that people can cash out of their bitcoin into the most liquid currency of all: precious metals - without ever having to exchange into a national currency. This helps boost confidence in bitcoin as well.

I heard that if everybody who thinks they have stock in silver actually tried to buy real silver, then silver would be worth 5 times as much as gold. Any way someone could verify this? Is buying silver basically just playing a waiting game?

I heard that if everybody who thinks they have stock in silver actually tried to buy real silver, then silver would be worth 5 times as much as gold. Any way someone could verify this? Is buying silver basically just playing a waiting game?

The Comex market is a "paper" market and the futures contracts often outnumber actual silver by a significant multiple. This allows some of the big players to move the markets and influence it short term. Eventually, though, they can't withstand market forces and there could be a violent move up in silver prices. I like to think of bitcoin like silver - both have potential for even more dramatic upside moves. We shall see.